Jamie Dunkley, city correspondent for the Evening Standard, discusses the day's business news.

Co-Operative bank fails 'stress test'

The Co-Operative bank have failed the Bank of England's "stress test", which looks to establish whether a bank could bear a 35 per cent fall in house prices and a 30 per cent drop in the value of the pound.

Eight banks were tested and only the Co-Operative failed. However, it has long been known the Co-Operative are experiencing troubles. It has been a difficult year or so for the bank, who have undergone major restructuring and weathered the Paul Flowers scandal.

RBS only just passed the test and have been told that to pay dividends they will need to ask permission from the Bank of England.

BT to by EE in £12.5 billion deal

BT are acquiring EE for £12.5 billion so they can sell customers a "quad offering", which would see them provide mobile, television, internet and landline. They had been deciding between purchasing EE and O2 and made their decision late last night.

Oil prices drop below $60 a barrel

The price of oil has dipped below $60 a barrel, which should finally see a drop in the price of petrol at the pumps.